CMED revels in impressive financial performance

By ZBC Reporter

State-owned entity CMED Private Limited has scored a double victory after playing a key role in the national roads rehabilitation programme and posting an impressive financial performance this year.

2021 will go down as the most transformative year for many city dwellers who are now enjoying smooth treading on most of the city and town roads after years of persistent neglect.

CMED has been in the thick of things in rehabilitating roads with the achievements being laid bare by the Managing Director Engineer Davison Mhaka at the company’s Annual General Meeting held in Harare this Friday.

” We have covered a lot of ground in rehabilitating many roads in all cities and towns using our own resources and in Harare especially our works are now there for everyone to see that indeed Government has the capacity to modernise its entire roads network,” he said.

An icing on the cake for the parastatal was the stellar financial performance, with the state-owned entity proposing a 35 million dollar dividend to government as explained by CMED Board Chairman Engineer Tammy Stevenson.

” Despite all our achievements we have posted a profit of about over 70 million Zimbabwe Dollars and for the first time in years we are proposing a dividend to Government of 35 million Zimbabwe dollars,” he said.

CMED’s performance is yet another indication that state-owned companies can play a key role in the country’s development agenda and is testimony of the success of the parastatal reforms instituted by the Second Republic which started with the Transitional Stabilisation Programme in 2018.

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